Harrisburg, Ontario Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $310,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Harrisburg, Ontario is experiencing steady growth as evidenced by the current data. The median house price stands at $520,000, with a year-over-year increase of 4%. This indicates a healthy appreciation rate that is attractive to homeowners looking for capital gains on their properties. Similarly, the median apartment price has seen a more modest increase of 2.5% year-over-year, reaching $310,000. This slower growth rate may reflect a more saturated market or potentially higher demand for single-family homes.
The population of Harrisburg has grown to 15,500, with an above-average growth rate of 3.3%. This demographic expansion can be attributed to several factors including the town’s appealing living conditions, job opportunities, and attractive real estate market. The influx of new residents is likely contributing to the demand for housing and helping to drive up property values.
Investment Opportunities and Potential
Given the consistent increase in property values and population growth, Harrisburg presents a compelling opportunity for real estate investors. Single-family homes are particularly promising due to their stronger appreciation trend. Investors should consider this segment for long-term capital gains or rental income strategies as new residents may look for rental accommodations before buying.
Apartments offer a lower entry point into the market at $310,000, which could be appealing for first-time investors or those looking to diversify their portfolios with smaller investments. The slower appreciation rate might suggest potential for negotiation on purchase prices or indicate an opportunity to invest in upgrades that could increase rental yields and future resale value.
Future Market Outlook
The positive trend in population growth combined with steady increases in property values suggests that the real estate market in Harrisburg will remain robust in the near future. If current trends continue, we can anticipate ongoing demand for housing which would support further property value appreciation. However, potential investors should monitor economic indicators such as employment rates and infrastructure developments that could impact market dynamics.
As more people move to Harrisburg, there may also be an increased demand for rental properties, which could boost the rental market and provide good returns on investment properties. It is also worth noting that shifts in interest rates and government housing policies can affect affordability and should be watched closely by stakeholders in the real estate sector.
In conclusion, Harrisburg offers promising prospects for both homebuyers and investors based on its current trajectory. Careful observation of market trends and timely investment decisions could lead to significant gains in this growing community.
